TSX (S&P/TSX) Index (11,761)

The TSX Index has bounced from short term support and is attempting to move above its 100/200-Day Moving Averages. A retest of the recent high in the area of 12,300 appears possible on a short term basis. However, I do not want to lose sight of the need for further corrective action for the TSX after this short term push is over.

The intermediate term outlook remains positive.